Pacific Current Partners has leveraged deep industry experience and relationships and specialized managerial expertise to acquire 20 properties in 7 states since 2013. Our focus is on adding value through efficient acquisitions and solving operational and local challenges through our in-house asset management team as well as the broad network of MHRV experts we regularly work with. Our team has nearly a century of combined experience in the mobile home and RV industry and we represent our industry on the boards of three leading trade associations. We pride ourselves on open and frequent communications with our investors.
Whereas many other buyers of manufactured housing communities in premium markets have aimed to convert properties to ‘higher and better use,’ Pacific Current Partners is committed to owning and operating our assets as manufactured housing communities for the long term and to realizing value by improving community experience for residents. PCP is still actively seeking MH and RV park acquisition opportunities, especially in the $5mm - $25mm range. At the same time, the company is working diligently and enthusiastically to execute asset management value-add business plans within our existing nationwide portfolio. Learn more about the team undertaking these endeavors.
Some of our value add strategies are:
IMPROVING RESIDENTS’ EXPERIENCE
Through our park improvement program, we work to enhance our residents’ experience. In some cases this means renovations to the clubhouse or the construction of laundry facilities, in other cases repaving the roads or developing a consistent overall landscaping plan for common areas. At some of our properties, especially in Southern California, we use native drought-resistant plants and avoid “patchwork projects” to create landscaping that is not only very attractive, but also more cost and energy efficient.
Additionally, we have implemented home ownership initiatives at many of our communities in order to help make it easier for residents to own their own homes, while also offering long-term leases so that future rent increases are predictable.
We are also specialists in managing ADA compliance issues and work hard to make our parks welcoming to residents with special needs. Understanding the importance of inclusivity we also offer counseling on questions of ADA compliance to other park owners. If you are interested in learning more please visit our dedicated website at https://mhrvada.com/.
The best way to add value to a park is to make and keep it fully occupied with satisfied residents. To that end we leverage our experience and industry contacts to quickly and efficiently bring new homes into our communities. For example, we have installed 27 new homes at El Cajon Mobile Home park and are in the process of installing 21 new homes at Valley Oaks MHC. Although we often look to have residents purchase new homes, we do not shy away from park owned home rentals as many other park owners do. We provide a variety of purchase and rental options to residents. In order to ensure that our RV parks also stay fully occupied, we work together with local municipalities to manage length-of-stay restrictions with the aim of being able to offer both superior short-term stay experiences for tourists as well as longer term affordable housing solution for residents.
ENERGY COST REDUCTION
Our business plans often include the addition of solar capacity to reduce electric utility expenses. We take advantage of the generous tax incentives currently offered in order to strengthen our returns. We have a thorough understanding of the value-add solar can bring to RV parks and manufactured housing communities and maintain strong working relationships with solar contractors that specialize in MHRV installations.
REGULARIZATION OF USE
Planning departments are often inclined to have an unfavorable view of mobile home and RV parks, but we have worked amicably and successfully with numerous regulatory bodies and municipalities to align the interests of residents, government, investors and other stakeholders. We operate on decades of experience with the regulatory issues that typically surround mobile home and RV communities and have been successful in clarifying or establishing new agreements with regulators regarding zoning, permits and entitlements.
Mobile home and RV park investing comes with many unique and significant tax implications. We apply our expertise to maximize tax benefits for our properties and our investors.